Ramboda Falls’ splash persists

Wednesday, 20 June 2012 01:20 - - {{hitsCtrl.values.hits}}

Debutant Ramboda Falls Ltd. (RFL) continued to gain for the second consecutive day, closing yesterday up 228% from its opening reference price.

On its maiden trading on Monday, RFL rose to a high of Rs. 35 before closing at Rs. 24.10 with 0.7 million shares changing hands. Yesterday half a million shares traded between a high of Rs. 34.10 and a low of Rs. 24.90, before closing at Rs. 32.80, up by Rs. 8.70.

The company runs a 20-deluxe room resort scenically located next to the cascading Ramboda Falls in the Nuwara Eliya District.

RFL was the 284th company to be listed on the CSE and is among the final batch of companies taking the listing via introduction route. It was also the third from the hotels and travel sector to list since the end of the war in May 2009, with the other two being Citrus Kalpitiya and Citrus Waskaduwa.